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roblem 1 6 - 3 6 ( LO 1 6 - 2 ) ( Static ) In its year 1 financial statements, Seatax Corporation, an
roblem LO Static
In its year financial statements, Seatax Corporation, an accrualmethod taxpayer, reported federal income tax expe in its year tax return, it reported a tax liability of $ During year Seatax made estimated tax payments of
hat booktax difference, if any, associated with its federal income tax expense should Seatax have reported when ear taxable income? Is the difference favorable or unfavorable? Is it temporary or permanent?
tabletableBooktaxDifferencetableFavorable orUnfavorabletableTemporary orPermanentYear $Unfavorable,Permanent
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